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CNBC
Dec 11, 2012 4:00pm EST
hours. brian, thanks very much. brian schactman, fiscal cliff talk. >> and form er fed chair alan greenspan is here and dow component dupont, is it holding back on investing and hiring because of the fiscal cliff? we'll speak to the boss ellen bowman giving me her cliff notes so stick around. ericans believee in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> welcome back. breaking news. let's get to jackie d'angelis on dupont. >> announcing a share buyback program and the company updating its guidance for 202012 on the previous guidance, the high end of the range of $3.25 to $3.30 in the earnings per share. the company also announced its outlooks in earnings to growth and low to mid-single digits. growth in the low single digits. bac
CNBC
Dec 5, 2012 3:00pm EST
of these fiscal cliff talks that are causing such volatility in the market here? >> well, bill, as you said, we are long-term investors. we really don't find ourselves wanting to move things around that much. >> you're not playing these swings here? you don't buy on dips? >> we're not playing the dips and selling the volleys. >> are you expecting that we will be able to get into this market as better prices at lower prices at some point before year end? >> that would be a very short-term question. i don't know the answer to it. >> and you're not a short-term guy. >> eric, what about you? how are you allocating capital these days? >> you know, we're allocating capital much the same way we have been doing for the last few months, which is thinking, again, sort of long term like was just said. you can do things around the fringes, but they have to be, you know, considered a small move rather than something aggressive. we still don't have enough answers to know what the ultimate outcome is going to be. >> mark, what about you? you know, we tend to oversimplify. right now the feeling is resolution t
CNBC
Dec 10, 2012 4:00pm EST
up for a second, steven, we talk about the fiscal cliff every day. those who are in the market talk about the fiscal cliff every day. does the average consumer out there moms and pops, do they talk about the fiscal cliff? does it factor into their spending efforts? >> not really. that's a great question. and the answer is no, not really. what i think really is happening with the michigan numbers and the sentiment numbers is a little bit of optimism that followed on the back of the election process. and then it's settling back in that nothing's going to change. nothing is going to get better. nothing's happening in washington. there is no movement towards consensus on either side of the debate. people look at that and say what were we so optimistic about? i think the cliff will be more of an effect afterwards. but to go back to stewart's point, he's talking about 2% growth in spending. 2% consumer growth is probably going to produce a very weak gdp number. although we had a nice number on the boost, we'll have a horrible in the next quarter. which isn't great. that's really the point
CNBC
Dec 9, 2012 7:30pm EST
>>> the clock is running out on the fiscal cliff. i'll talk to the former cabinet secretary who says going over the cliff is better than getting a bad deal. >>> the auto industry is back. what it's doing right in a soft economy? we'll find out what's driving profitability. >>> curtain's up on the billion dollar woman who made the lion roar, julie taymor. >> we never had a complaint about it. >> "the wall street journal report" begins right now. now, maria bartiromo. >> here's a look at what's making news. some surprisingly good news about america's economy. the labor department says 146,000 new jobs were created in the month of november. much better than economist's expectations. the unemployment rate dropped two tenth of a% at 7.7%. the labor department also says superstorm sandy had little effect on those numbers. >>> the markets continued their familiar pattern of following the latest word or words or hopes on fiscal cliff. no major moves during the week but several times the market ran out of steam to the end of the trading session. the house of representatives left for a lo
CNBC
Dec 12, 2012 7:00pm EST
talent. the corporate taxes may be part of the fiscal cliff talks. here is dan mitchell, senior fellow at the cato institute. google stashed $10 million in bermuda, hp has almost all of its cash offshore and apple said to shareholders, two-thirds of its $121 billion of cash is held outside the united states. now why is that? is it just because they hate america? >> two things to understand. number one, everything they do is completely legal. it's foreign source income that is being taxed in the countries where it's being earned. but, number, two, the u.s. has the highest corporate tax rate in the developed world. these companies if they bring that money back to the united states will be double taxed on top of what they paid oversea, yes, with some credit so maybe it doesn't get too much above 35% but we are shooting ourselves in the foot with very bad corporate tax policy. >> will president obama clahang that with this talk of corporate tax reform? >> i don't want to burst your bubble. i'm not sure the administration is serious about this. we've seen there idea of corporate tax reform
CNBC
Dec 6, 2012 4:00pm EST
. talk to us about that. >> the fiscal cliff, one of the things if we're really going to go over it and change the tax basis, the treasury has to call on corporate america to change the withholding tables. all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal and haven't asked for it yet. you think we're going to get a deal? >> i think they may try to push it to the end. the other thing i'm watching for is the 17th when the president is due to take his family to hawaii. i don't think he wants to be in hawaii without a deal. something is going to come up. >> ron, what about you? >> i thought the resignation of senator jim demint, who was a sta
CNBC
Dec 5, 2012 6:00am EST
talking about every morning here since the election. fiscal cliff, big, big issue. there are now, it seems, growing numbers of people on both the right and the left who would like to see us just go over that fiscal cliff. how big of a problem would that be? >> that would be a big problem. i actually still believe that those -- the democrats, the administration, republicans in the final analysis don't want to see that happen. they do understand that not only would that present a problem in the near term as we went over the cliff at the end of the year, but we still then have the whole debt ceiling fight that would transpire shortly into the new year. the issue isn't simply the negative result of going over the cliff, but it's also that business, consumers, everybody continues to hold back on the uncertainty. and we believe the economy is pretty well positioned potentially in 2013 if we can put this behind us. so i think a lot of what's going on is what you would expect to see in this negotiation, very public negotiation, which is not the best way to do it. i think at some point, the preside
CNBC
Dec 5, 2012 1:00pm EST
will speak later to steve leisman about the fiscal cliff talks. we'll have a preview and discuss what traders want to hear. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> goldman sachs earlier today cutting its outlook for gold and prices are closing right now. we have about a $2 loss in the gold market. sharon epperson is track being the action down at the nymex. sharon? >> gold prices are finishing the day basically flat here, s
CNBC
Dec 10, 2012 7:00pm EST
. >> reporter: good evening. we are monitoring fiscal cliff talks. it's been radio silence from democrats and republicans in washington. they're sticking to preagreed upon talking points explaining that lines of communication are open. we don't know what it is speaker baner and barack obama are hashing out behind closed doors but more republicans are gravitating to the idea of compromising on a tax rate increase so long as they can get what they want for spending and entitlement cuts. listen. >> those rates are going up. we either act now to keep them from going up from as many people as possible or they will go up on everyone. that's a disaster. let's recognize reality, take care of as many people as we can. >> meanwhile, you're right. the president was in detroit where he continued his outside-inside game of running a campaign-style effort to jin up popular support for the fiscal cliff. because he was in michigan he took a whack at the proposed legislation -- the so-called right to work legislation. listen to the president. >> these so-called right to work laws don't have to do with eco
CNBC
Dec 7, 2012 1:00pm EST
on where the fiscal cliff talks stand with 24 days to go. where should you put your money heading into this weekend? could be a very crucial weekend. >>> no worries. with the unemployment rate still near an 8% level, why some companies can't find workers. there's work and it is not a skills gap. we'll show you what else is being factored in to that equation. >>> and no fair, perhaps? well, a big change at big blue. ibm changing the way it pays down its 401(k). will other companies follow suit? tyler mathisen, my partner, who is always fair, always working, and is always a work in progress, according to this, is at new york stock exchange. hi, ty. >> i am the ultimate work in progress. thank you very much. >>> despite the assessment from the speaker of the house on the fiscal cliff, the fact he says there is no progress being made so far, the dow sort of playing past it. right now the industrials up by 46 points at 13,120 and change. apple is part of the nasdaq. apple down $14 a share. another 2.66% today as scott mentioned a moment ago, $50 billion in market value shaved off of ap
CNBC
Dec 7, 2012 4:00pm EST
. have a great weekend as well. see you mondays. >>> house speaker john boehner says fiscal cliff talks remain stuck in neutral. >> the president insist on his position. insist on my way or the highway. >> well, going over that highway and the fiscal cliff would kill thousands of jobs, especially in the defense sector and the head of a defense contractor who will feel that pain joins us next along with former vermont governor howard dean who argues maybe going over the fiscal cliff will be the best thing for the nation. >>> later, we have the former chairman of the council of economic advisers under president bush. he's going to join us as well as laura tyson, the former head of the cea under president clinton. we're going to get their take on the cliff and today's jobs number. >>> also, tough week for apple shares. is now the time to load up? stick around for the apple trade in the back half of this hour. stay tuned. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ]
CNBC
Dec 10, 2012 6:00am EST
, president obama and house speaker boehner spending a sunday together to talk about the fiscal cliff. no word on any progress and the president will be in detroit today to speak about the economy. joining us right now is cnbc's chief washington correspondent john harwood. john, you had a great column over the weekend in the in, times whether you took a look back at what happened in 1990 where things were set up for a grit debate but maybe things were easier at that point because you didn't have the 24-hour news cycle. you had other things that made it easier the last time around. what does that lead us to think this time around? >> well, there are ways in which it was more difficult, as you just alluded to, becky. but there are a lot of similarities, too. there are warnings that the economy is going to take a huge hit if a multi year budget deal was not enacted. you had a republican party led by a president who had made a no tax pledge and who was trying to figure out a way out of that. when he finally did that, that's when the negotiations took on a faster pace. and i do think here the fact
CNBC
Dec 5, 2012 9:00am EST
when he talks to julia boorstin and live coverage of the president with remarks on the fiscal cliff before the business roundtable. can he convince corporate leaders he has the right solution for avoiding the fiscal cliff. one more look at futures this morning on a wednesday. look like open 28. "squawk on the street" is back in a minute. >> there's a look at citi. the news on the bank this morning cutting 11,000 jobs. still working on a percentage of what that is on the overall workforce. they think it will be a pretax charge of about a billion dollars. savings of 900 million in 2013. rising to about 1.1 billion in 2014. we'll keep an eye on that name. >> very big. >> yeah. shares of pandora taking a hit in premarket trade. online music service beat expectations with third quarter results. ceo joe kennedy says pandora's advertisers are displaying caution about spending because of the fiscal cliff. he'll be on "squawk on the street" at 11:40 eastern time. and netflix paying for exclusive rights to stream disney movies. a lot of happenings moving stocks in a big way. with pandora, ana
CNBC
Dec 11, 2012 12:00pm EST
. lots to talk about. we'll start with the fiscal cliff and stock market. stoc stoc stocks paring their gains just a bit. amid reports in washington talks on the fiscal cliff have taken a positive turn. steve weis, market seems to be anticipating a deal. >> all we've done is ratchet up the now if there is no deal or it's an ugly looking deal we've got much more risk in the market. because the market is assuming that a deal will happen. it's assuming we won't go off the cliff. if you take what boehner just said, to me it's actually good news that the market didn't really respond. because it's negotiation as usual. boehner was really only talking about the cost cuts that he's looking for from obama. obama's just trying to negotiate. so i don't even know why he spoke today. maybe to throw some cold water on the notion or maybe throw hope. we don't know. the point is ignore the headlines. let's just -- just invest for longer term. >> josh, what do you make of the 100-point move we're seeing in the dow today? it is the fifth straight session that the dow has been higher. we haven't had
CNBC
Dec 12, 2012 6:00am EST
't supposed to -- i see. >> okay. >> i got it. >>> mike duke did mention the fiscal cliff. we're going to talk about it now. death and taxes among the things we're talking about. will a higher dividend tax rate essentially kill taxpayers at every income level? joining us to talk about this and more on the fiscal cliff is thomas fanning, chairman, president, and ceo of electric giant southern company. how does a utility, tom, how do you prepare for the uncertainty surrounding the fiscal cliff and these washington issues? i guess it's -- you know, in the back of your mind, but you got to run a business, don't you? >> sure. look, we plan with uncertasrcer all the time. our whoerizeons are 30, 40 years. there are big time economic horizons going on. one of the thing we're a indicator of is the future health of the economy. what we have seen is first quarter this year was a really good quarter. second quarter was okay. third quarter went to a dead stop in terms of economic growth. at least in the southeast. we have over 300 projects sitting on the shelf representing about 45,000 jobs. $15 billion o
CNBC
Dec 11, 2012 7:00pm EST
into the fiscal cliff meaning that neither party will let the tax cuts expire. i think republicans are going to stay at a retreat and voting to extend the middle class tax cuts. that will avoid the miss kal cliff situation. and i may not like this deal at all. one reason stocks are behaving wellky well. speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on this. >> little bit of breaking news. >> wow, the studio is shaking. mr. bhoener is at $800 million. no new information on then ti e ti tiltment. i'm suggesting. it is a game of chicken. neither party can afford this kind of recession. after what we've been through we can't take it. if that meanstendin
CNBC
Dec 10, 2012 3:00pm EST
're also going to have to talk more about ben bernanke. if we go off the fiscal cliff, it shows the irony of how the feds balance sheets isn't addressing the problem. it isn't addressing unemployment. one hand of the government is trying to do something that isn't working and the other hand is shooting in the foot. i think this is going to be interesting listening to bernanke on wednesday. >> ben has already put it out there there's not a lot the fed can do if we go off the fiscal cliff. you speak to a lot of smart people, rick santelli. >> and he's a smart person as well. >> to feel it's going to be a year of strong dollar or weaker dollar. i ask this because so many companies during their latest earning season have pointed to the strong dollar as a real problem for them if they're a multinational. >> i think the relationship between all the developed countries using printing presses like the dollar, yen, euro, are close to levels and ranges we'll see next year. i think in some of the asian currencies we need to pay more attention to. you can only swim so far in a round pool without bang
CNBC
Dec 5, 2012 7:00pm EST
to get to talks. we do not want to go off the fiscal cliff. that's why we quickly responded to another proposal to the president. but the president refused to have a discussion. >> there's other reports that say republicans are looking for a fallback position, if he can't get the capps on deductions for more tax revenues and so forth. and it's going to be tax rates that the republicans might just vote present. some might vote present. some might vote aye and deal with the rates next year is. that just pure press speculation or is there anything to it? >> look, those are all press stories that are out there. we're trying to solve a problem. because if that came to fruition, that does nothing to solve the problem. and we just have an unbelievable amount of growth in government where we have to control the spending. if we want to truly save medicare and social security, we've got to do something about it. that's what republicans have been proposing all along. we want to solve a problem once and for all. and that's why we haven't waited -- it's interesting that we're just now talking about
CNBC
Dec 11, 2012 6:00pm EST
cliff. the leaders i talked to today know their actions will take us over a cliff. i understand there is now perception among the media. the no tax increase republican ares regard the stance as a birthright. a guy that is so anti-spend that he seemed to care more on these issues and more about the accountability for the disaster relief money. i can't believe that. but a lot of guys down there will do anything to prove a point. but i can tell you there are enough garrets to force us over the cliff. given that the garrets are over there. got a question either people don't know about the cliff or they believe that the deal will be done. and they that they have fulfilled the nor quist pledge. where were the republicans when they cut taxes from the chinese two, why didn't republicans press for spending cuts when the president extended the tax cuts? and why doesn't the president offer spending cuts to medicare and defense and social security? how about weapons programs that don't fit in the terrorism world. how about foreign aid and maybe trying to be helpful, i'm sure some of today's
CNBC
Dec 11, 2012 1:00pm EST
. >> what about the fiscal cliff? we just talked about it with john boehner. does that help or hurt? >> home run for exchange trade for two reasons. whatever happens on the fiscal cliff, whatever they get their act together to do, two things will happen. tax rates will go up on capital gains and dividend. etfs or more tax efficient, more people will follow into that place. i also think some people trapped in mutual funds because they have low tax basis will do tax gains harvesting, realize their gains, pay 15% and move that money finally into cheaper, more tax efficient and better profits etf has to offer. >> trader talk column, trader talk cnbc.com in a few moments. that's what's hot, etfs. back to you. >> we look forward to that very much. thanks, guys. gold market selling off a little bit. at the close, sharon epperson tracking the action at the nymex. moving into stocks and out of the metals. >> they are. we're seeing a little bit of weakness in the gold futures price. gold etfs held up steadily over the last several weebs as well as record levels, in fact. in term of the flat price we a
CNBC
Dec 6, 2012 6:00am EST
the fiscal cliff and caterpillar's ceo joins us from the nyse to talk about the fix the debt campaign and more. you know anything we don't know, doug, that you can tell us about how this finally looks and whether we do it? >> i don't know if i know any more than you do or not, joe, but we've all been working hard to impress upon our leadership in washington how important this is not to go over the cliff. we had good sessions with republican leadership, democratic leaderships and with president obama in the white house. nobody over there wants to go over the cliff at this time, there's nothing that wants to do it. >> once we get over it, we hope it's a bridge to something that will help you and caterpillar compete better in the world. after the cliff, what do you want? is there any emphasis on corporate tax reform that we need or how to bring $2 trillion back to this country? aren't those things, did you talk about any of those or the cliff? >> we talked about all of those, long-term competitiveness for our country, immigration reform that needs to happen, and there's a lot of bipartis
CNBC
Dec 11, 2012 4:00am EST
made in talk toes avoid the u.s. fiscal cliff. another top republican lawmakers offers an olive branch to the white house. >>> and sylvia berlusconi accuses the current premier as being german-centric. >>> and the dfw returns to a new year high. >> you're watching "worldwide exchange." bringing us business news from around the globe. >>> 13220 is the level of the dow. the nasdaq is trying to add five of six points. we're seeing a bit of a rebound shaping up here in the red. the ftse global 300 is up about .2%. for the most part, it's all green across europe. the ftse 1100 adding .2%. the xetra dax and cac 40 in germany, paris, better than .5%. up 1% after falling double that yesterday. we're seeing gains in italy and portugal, ross, as invest everies have now perhaps priced in the latest turmoil in italy. >> absolutely. meanwhile, unemployment may have ticked down 7..7%. 10.9% for those aged 18 to 29 and this one saying they're struggling to fill vacancies because of a lack of suitable skills. this all according to our next guest who just completed a survey about youth unemployment and
CNBC
Dec 7, 2012 6:00am EST
on in town. in washington news, both parties hinting at renewed talks on the fiscal cliff. the acknowledgement of open lines of communication passed for encouraging news. a new survey finds more than 60% of leading investment professionals predict a shorp stock decline in the market if the government fails to come up with a deal. in this case defined as a more than 10% drop in the dow. 56% surveyed foresee a deal to avoid the cliff by year end, 44% predict failure in the ongoing negotiations. as for corporate america, through yesterday's close, there have been # 70 announcements of special dividends. these special difference deebds are valueded a more than $30.1 billion. among the latest names, mcgraw hill will pay a special dividends of $2.50 a share before year end. and drop its previously announced plan to buy back up to $200 million more of stock this year. >> everybody's paid their dividends this year, so they won't be paying them next year. >> this is a major issue. what's going to happen is -- we have two great economists onset. but that money will get annualized, s
CNBC
Dec 11, 2012 6:00am EST
boehner's office to reach a deal on the fiscal cliff. while talks continue privately between both, no public details of progression toward the compromise have been released. in the last hour, our guest, tony fratto who is the former press secretary and jerry bernstein agreed that we would likely get some sort of a deal, just perhaps not in a form that was widely expected. joining us right now is the first of many lawmakers we'll be speaking with today, texas congressman jeb hensarling who is also the incoming chairman of the house financial services committee. and mr. chairman, first of all, congratulations. >> thank you. good morning. >> good morning. thanks for being with us today. >> happy to do it. >> we hear all of this talk, we hear all the talk that's been leading up to this point. we know it's gone a little quieter at this point. maybe that's a good thing. i also know you've been pretty firm about this. you've said that elections do have consequences. the president is getting his revenues. now he's drawing a line in the sand when it comes to tax rates. do you agree to go a
CNBC
Dec 12, 2012 5:00pm EST
hitters here today, talking the fiscal cliff and that low interest rate environment. and actually this morning, the ceo of goldman sachs actually just went ahead and called it a bond bubble. too many companies borrowing too long-term and those cheap rates. very interesting comment. and this afternoon, some private eck by can i titans piggy backed that, talking about what the costs mean for the u.s. government especially when it is negotiating the fiscal cliff. >> you should really get an aggressive deal done, because it's for sure clear you're going to have an upward move in interest rates and when it does, we'll be in the same soup again. >> right now, we're spending about $250 billion more or less on interest. if we had normalized interest rates, what you normally would think at this kind of period of time, post-recession, we would be spending $600 billion a year for interest, given how much we're borrowing. we're not spending that much because interest rates are so low. >> so, rubenstein saying we'll incur those prices at a later date, but another said it will pay to trade agai
CNBC
Dec 5, 2012 12:00pm EST
in gold, but i think it's too early to call. we have geopolitical risk. we're talking about fiscal cliff, and we're forgetting about the weak economy in the uk. there are two things that i'm watching. i'm looking at central banks around the world constituent adding physical gold to their coffers to the opportunity of 400 tons. and a new investor class, the etp, investors holding 2600 tons of gold and the fourth largest holder. so when i start watching, if we start reducing those levels, maybe the top is in. by the way, the dollar is closer to the lows than it is to the highs, so keep an eye on the dollar as well. >> okay. it sounds like it's too early to call in your view. let's look at what goldman is cowling for. they're cutting their 3, 6 and 12-month targets. do you agree with those levels where you see it going long term and short term? >> jackie, you know, the numbers we have to watch right now, i don't know if i necessarily agree with those numbers. but the numbers we're looking at right now are the numbers we have covered on this show a few times. it's 1675 to 1672. that's the bi
CNBC
Dec 12, 2012 4:00am EST
at a cushion to the gulf. >> reporter: one last question. the fiscal cliff, we talk about it, historical, dollar down, commodities up. i see less bang for the buck on commodities, the more q.e. into the system. i'm not sure it's working. >> i think if we get more q.e., and we're likely to get more today which is qe3 part two or qe4, however you phrase it, the fed will announce additional purchases and treasuries, i think that is -- the fiscal cliff is a different situation. i think they'll resolve it at the last minute partially in a temporary short-term way so we don't go into a major recession next year. but i think that things are going to be positive. >> reporter: i know you don't think it's complimentary to say you're like a linebacker, but i'm going to need you in a minute. the media scram is vicious. not only do we have the president of prestige economics, we had a first on cnbc, a coup, my jeer nigerian oil minister, back to you. >> you're staying at the intercontinental, things are looking up. >> reporter: what have i done right? i thought those were the good old days of gone. >
CNBC
Dec 5, 2012 4:00am EST
. >>> talks between the white house and republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my pancakes.
CNBC
Dec 10, 2012 1:00pm EST
for word on progress or talks on the fiscal cliff. also they are waiting to see whether or not federal chairman ben bernanke makes any comments about that. when he concludes at the conclusion of the two-day fed meeting occurring on tuesday and wednesday. again, dow industrials for the third day in a row looks like it is held to double digit range. today's range is about 56 points. let's look at a couple of dow movers. mcdonald's from the better than expected saim stores sells. weakness we are seeing in home depot along with other details sales numberes. but we continue to see strength in tech. dow and hewlitt packard with a possible break up of that firm. since november about the middle of november, when they hit a 52-week low, all of this despite weakness in apple, this group continues to perform very, very well. energy stocks higher earlier, drifting lower, that has the dow's lead from the highs of the session. lastly we want to note that dovert corporation, took the stock down a couple of points. >> no t.o. the nasdaq now, everybody is talking about apple once again down here, but t
CNBC
Dec 7, 2012 9:00am EST
, the november jobs number. the sandy effect. job creation. the fiscal cliff. we'll talk it all with top white house economic adviser dr. alan krueger. shares of whirlpool have more than double d this year. an exclusive with the ceo is coming up and opening bell on a friday morning is coming up next. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but the
CNBC
Dec 12, 2012 9:00am EST
assume is the capital gain before the end of the year. >> the fiscal cliff. >> your comments on dupont and joy global, i see pretty cautious commentary from du post. if my numbers are right, 2% global growth is what dupont is talking about next year. 1.5% growth in north america, 4% in asia pacific. i do agree chain a's definitely a bright spot. that's certainly pretty good. dupont really big company, they operate across chemical business, they operate in electronics, agriculture. remember, housing, they owned the tybeck insulation business, that's been a monster business for them overall. i think china is the bright spot. if you look carefully, they're talking about 8% to 12% decline in revenues in 2013. even though they said we're projecting pretty much the same in 2013, as 2012, the ceo said there are signs of improvement in china. yet their numbers overall this year weren't that good. still, i'd say pretty cautious, hopefully china starting to emerge. again, fourth quarter may be the bottom here for china. guys, back to you. >> totally agree. joy would not be having this move i
CNBC
Dec 10, 2012 9:00am EST
with the sunday talk shows, focusing on the fiscal cliff. it looks like we're looking at a lower open for the dow. as for the action in europe, really, the action focuses on italy where there's an impending political regime change. more on that in just a moment. the road map starts at the golden arches. mcdonald's blowing out expectations for november sales after the dismal drop in the month of october. hoping to fuel the rise, the bacon/onion/cheddar sandwich. >> there's one thing for certain, taxes on top earners are going up. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald
CNBC
Dec 6, 2012 1:00pm EST
service. >>> jim iuorio, let's talk about these fiscal cliff expectations. are you seeing anything in this debate, jim, that you think of as investable, actionable, right now? >> well, sure. we tend to think of this as a binary event. either we come to a solution or don't come to a solution. i say that's not the case. there's three different things. one we come to a solution the market accepts and likes, one that it hates or we go over the fiscal cliff. one that the market hates and going over the fiscal cliff seem more likely to me. either one will be an economic drag. i like procter & gamble, big companies with good cash flow that are somewhat recession proof. >> thank you very much, jim iuorio. >>> in the weeks before christmas, not a creature was stirring. not even the house. accept, of course, on twitter where one of the top trending words is cliffmas. in a fiscal cliffmas used in a tweet from the reformed broker, josh brown. according to the congressional daily, the hill, illinois senator dick durbin also jumped on the phrase this week, "21 days until christmas. 27 days until
CNBC
Dec 6, 2012 3:00pm EST
here. up next, we're talking potential fallout from the the fiscal cliff with the head of economic bell weather fedex. fred smith will join me straight ahead. we'll get into that and a lot more. stay with us. >>> later, the ceo of the company that owns luxury brand gucci is warning sales could fall off if we don't get the fiscal cliff in order. hear from him later. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-8
CNBC
Dec 6, 2012 7:00pm EST
and for their economic growth. that may be a little hidden gem out there. all i'll say is with a lot of talk about fiscal cliff, including this program, bald it could be a problem, the stock markets are dissonant. they're dissonant in the chinese soft/hard landing and putting it into a soft landing. something good is going on out there. and we better keep a good eye on it. i'm sorry we don't have more time. >> i think there's plenty of good things. >> folks, you're not going to believe this, you're not going to believe this, the michigan statehouse has just passed a bill in favor of making that so-called union paradise a right-to-work state. yes, it's really true. right to work in michigan. thought it would never happen. we're about to talk to the governor of the great state of michigan about this incredible development after the break. no more union paradise. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. whe
CNBC
Dec 12, 2012 4:00pm EST
of talk but didn't have impact on the stock market. i was here for that. the fiscal cliff has more impact, and it did today. i watched what the markets are doing today. today when bernanke was on, i saw interest rates move up, bond yields move up, highs for the day, and i saw stocks move down. that's kind of the opposite of what bernanke was wanting to have happen. >> right. >> and two things, guys, that did that. number one, he was questioned persistently about the fiscal cliff and had to come out and say what he said before we don't have the tools to deal with it if we go over it. that was a approximate stocks started moving down and secondly, the 6.5% unemployment rate. that's got a lot of people talking down here that we may be closer to that than a lot of people think. >> bob, that's only because people are leaving the workforce. that's how we're going to get there. if everybody decides to stop looking for work and stay home and watch soap operas then we'd have an unemployment rate of zero. >> that could be a factor in their decision making, i'm sure it will be, but i'm using the num
CNBC
Dec 11, 2012 3:00pm EST
on this stock, if only you were the ones negotiating the fiscal cliff. thanks so much for joining us on "talking numbers." >> up next, we'll ask leader from both parties what they are willing to give up. representative lynn jenkins and x xafier becerra will join mvier . >>> all right. let's take a look at markets as we head towards the close. 30 minutes left, maria, and, you know, the optimism of this morning has been tempered by those comments from senator harry reid, apparently, that we would not have a deal, he didn't think, before christmas, and that it was up to the republicans to make the first move on spending cut proposals, not the democrat and a 100-point gain became 573-point gain on the dow. the nasdaq still doing very well. technology hanging on to their gains. apple is up smartly today with a gain of almost $12, back to $541, and the s&p up as well, but, you , the mood, it's clear again, this is one of those days where wall street is keeping a very close eye on the nuances coming out of washington. >> what nuances there are. the republicans want spending cuts, and then they will, i
CNBC
Dec 10, 2012 6:00pm EST
much attention to the fiscal cliff excluding everything else? with the dow up 15 points, nasdaq rising 5.30%. we talk about how the transports farewell, or how i like the new honey well application. where you should buy the aig over the dip. it's fun for us to puzzle over the strength of hewlett packard. deckers down $3 because of the warm weather impact on uggss that what's behind coach today? that's what i regard as productive use of my time. but unfortunately, that's not the case for many of you and in many ways, it's not what you need to hear. in fact all those issues i just mentioned, aren't even mildly important after the big things we battle every day. first let's tackle the fiscal cliff. i'm beginning to hear a ton of blow back about how he talk about it too much. jim, give it a rest, will you? i'm getting a feel of how our rise above campaign is still warm, because the politicians aren't going to rise above, stop kidding yourself cramer. yes, yes, yes to my mono vacati without legislation motto. i wish i never had to talk politics ever. one of the reasons that i started "mad m
CNBC
Dec 11, 2012 9:00am EST
said, we have a deal, a fiscal cliff deal, and bob pisani was delivering a talk on the floor. a deal would signal the start of american austerity. what's your take? >> no, we get a deal going, look out above. i think there's lots of ceos i talked to who want so much. they want to bring money back here higher. this is the cheapest place to build and hire people in the world. but they're just not sure exactly how much they're going to have to spend because of the government. that's the impediment. these guys want to built here, insource, energy costs really low. it can happen. it's huge. >> with that in mind, if we close at these levels, at least in the green, that's five days up, guys. we've not done that since march, which is a -- that's a long time ago. >> i like having becky on "squawk on the street." >> i like sitting next to jim. thanks, guys, it's been great. thanks, jim. thanks, guys. >> see you soon. stimulus watch as the fed kicks off a two-day policy meeting. wait until you hear what investors are saying in our latest fed survey. that's next. >> should you keep betting on a
CNBC
Dec 6, 2012 12:00pm EST
of special dividends being made before the fiscal cliff deadline. they are all the talk of twitter. the big question -- is it too late to buy in on a stock once the announcement's been made? tweet us your thoughts at cnbc "fast money" and we will unveil at 5:00 p.m. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarge
CNBC
Dec 10, 2012 11:00pm EST
the fiscal cliff. i'm beginning to hear a ton of blowback about how we talk about it way too much. jim, give it a rest, will you? i'm getting feedbck how our rise above campaign is stillborn because the politicians aren't going to rise above, stop kidding yourself cramer. yes, yes, yes to my no vacation without legislation mantra. even has its own hashtag on twitter. i wish i never had to talk politics ever. one of the reasons that i started "mad money" was that i would never have to talk politics. that's something personal that shouldn't even be discussed on air. i don't have any choice. i know everybody's hostage to washington these days. i can isolate some cloud plays. there's some trends that can trump the government, health and wellness maybe? breaking up is easy to do stories. better than expected retailers, in the end when it come to the fiscal cliff, the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements,
CNBC
Dec 11, 2012 5:00pm EST
. they talked about the consumer being under pressure, feeling a little bit scared about the fiscal cliff and so i think we're going to see dollar general themselves under pressure, margin pressure, i don't think you need to jump in right here. >> drop for sprint, down 1%. keith? >> good example of a stock that's overowned and this works. when the deal news is bad, you have to be careful. you have to be real careful with sprint. >> pop for texas. >> they released forecast for their q-4 sales, which basically straddles a range that analysts were expecting. invenn toirp tories are very lo uptick in demand would be a positive for them. >> a pop here for le whaf. can you taste that? a new trend floating to aless rant near you. a futuristic food vaporizer transforms food into a inhaleable low calorie cloud which can be consumed through a special straw. it's spread across europe like fog in london and making its way to the united states sometime soon. do you have to get stoned first? >> is that really a -- >> le whaf. >>> coming up next, it is the fiscal cliff consequence that could fall right into yo
CNBC
Dec 6, 2012 9:00am EST
, alan blinder will join us to talk about the fiscal cliff and qe-4. not many hotels are being built in the country today. choice is breaking ground on three new hotels. they're also the originator of the obama special dividend. >> let's get six at 60, six stocks in 60 seconds. let's start with lions gate in gold man. >> i'm going for hunger games. gold man doesn't seem to care. >> this is a very hot stock. >>> it's a limb late. >> oppenheimer, buying a hold on auto zone. >> i thought it was a really good buy back. one of the hottest stocks for a long time. the big data, i would be careful. >> u.s. wine guard to sell. >> good yield, bricks and mortar, fine. here's a company that's going to be on tonight. i thought this call was really bad to say sell, i liked the quarter. but everybody's worried about retail and fiscal cliff, carl and fiscal cliff was mentioned in the release. it's become something carl that we are expecting in every release that we see. >> we do have a couple of seconds to point out that last night in cable fax awards, two nights ago, you were named to the hall of f
CNBC
Dec 6, 2012 4:00am EST
budget talks. earlier the president told the business round table a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. in an interview on cnbc, timothy geithner says the gop is making a little bit of progress, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> i want to understand the administration's position when it comes to raising taxes on the wealthy, those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> with both sides in washington publicly digging in their heels, how much will the fiscal cliff impact the credit markets? ben garber joins us for more. ben, good morning. clearly we're focused on the down side risk from the budget standoff and then there's beyond that. let's talk about the short term at the moment. what im
CNBC
Dec 10, 2012 5:00pm EST
this first agreement and we avoid the fiscal cliff, we get into next year, there will be a debt limit fight, that might be less intense if they can get through this one. and the republicans will come up with a new way to talk about big spending cuts in return for some entithe entitlement changes. >> ben, thank you for stopping by. >> thank you. >> this morning, i was thinking to myself, self, if we get a deal, what would the market reaction be to a deal? >> that isn't -- >> because you can really make the case for either way, a selloff or a rally. >> i think the way the market sets up right now, the fact that we continue to sort of push towards this 14 and a quarter level leads me to believe that people are believing there's a deal that's some what imminent and we're going to rachet our way up. but my push-back would be, i mean, a deal, it's not buy their. my sense is, u.s. going forward, whatever deal is made there are going to be serious cuts to serious things. though a deal -- a deal that comes out in terms of the media, it's going to be positive for the market. the aftermath, it won't b
CNBC
Dec 7, 2012 4:00am EST
a near week long silence as the fiscal cliff looms. they promise to renew the negotiations. and are you earning $250,000, worried about having to pay more tax? you may be able to earn up to $300,000 and not have to hand over more cash to the irs. head to cnbc.com for more. and victor hugo's classic thofl about life, love and hitting the big screen. carolyn went to speak to the stars of the film to find out why the classic story still resonates. ♪ >> i think human truths are human truths and there's also a certain cycle to the world. >> just a look at the world and humanity, and we'll always be moved by a passion for fighting for what we believe in, we've always been moved by love. >> the power of redemption are all themes that transcend time. >> les mis has been performed 10,000 times and seen by 16 people worldwide. and now it's a major motion picture featuring hugh jackman and anne hathaway. so what does it take to transform wolverine and cat woman into the iconic characters. >> i wore contact lenses to get the redness in the eyes. i spent time in a prison here in london just to tal
CNBC
Dec 7, 2012 3:00pm EST
. this is basically e quill librium. it's not just the fiscal cliff, mandy, that's causing the market to do this seesaw action. >> we highlighted yesterday how the german and french markets hit 52-week highs yesterday. we're not close to that. we hit our highs in september and haven't looked back. are we being held back by the fiscal cliff? >> just like business people, investors are waiting for signs of uncertainty to be lifted. so you have the fiscal cliff, and the business confidence is at an all-time low. consumer confidence is at a 4 1/2 year high. germany's stock market is up 25% this year, both in dollars and euros. the u.s. dollar and the euro are about the same. basically, you want to watch the ten-year treasury interest rate. it's been going down this week. you always show that at the end of the week. gold has basically been very quiet. you're waiting for the dough here. you're looking for the market to give you a sense of where the economy is going. >> we're waiting for green lights. do you feel when all is said and done, no matter how much we talk about, you know, how the end of
CNBC
Dec 10, 2012 12:00pm EST
over the fiscal cliff. but where do you invest if there is a debt deal? some smart strategies with your stock picks coming up. one area of those fiscal cliff negotiations that is getting very little attention but could have a major ramification for you and your kids is the estate tax. we will drill down on the future of the inheritance tax. and the other side of google, the internet giant slashing bills -- stashes, i should say, billions in tax shelters to avoid paying taxes. is that fair play or is it absolutely outrageous? we'll talk about that at 1:00 p.m. eastern time. now back to scott and the fast money "halftime report." >> over the weekend johnny manziel made history as the first freshman to win the heisman trophy and with a great nickname to go along with his great story it would seem as though the sky is the limit for the kid they call johnny football. our brian shactman is live in new york city with the texas a&m qb. brian? >> they call him johnny heisman now, too. only the fifth player ever in college football to throw for more than 3,000 yards and run for at least 1,000. jo
CNBC
Dec 7, 2012 7:00pm EST
. with the countdown to the fiscal cliff at 24 days, the "washington post" reporting today that federal agencies are sharpening their plans before spending cuts, layoffs, fur lows and just general old down sizing. all if president obama fails to strike a deal, which i believe is increasingly likely. let's brung in distinguished fellow at the heritage foundation, form congressman old friend. ernie, i'm not shedding any tears over this. i think these fur lows and layoffs and downsizing is just what they need. >> i understand that the labor department report which came out today shows that 73% of the new jobs created since june are government jobs. we have 20 million people working for government at the federal, state and local level right now. and i can't tell you the exact mix between federal, state, local, but i do know that a huge number of the people who are on t payrolls are actually getting the money for those programs from the federal government. so the federal government should stop subsidizing states and cities and for that matter should not be putting extra burdens upon them with a lot o
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